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From: ark@alice.UucP (Andrew Koenig)
Newsgroups: net.invest,net.consumers
Subject: Re: Re: "No Money Down" (Other People's Money) Scam
Message-ID: <4794@alice.UUCP>
Date: Sat, 11-Jan-86 15:42:25 EST
Article-I.D.: alice.4794
Posted: Sat Jan 11 15:42:25 1986
Date-Received: Sun, 12-Jan-86 06:04:34 EST
References: <131@molihp.UUCP>
Organization: Bell Labs, Murray Hill
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Xref: watmath net.invest:1016 net.consumers:3833

> IE.  There doesn't seem to be any advantage in selling the house to 
>     the person who *states* he will pay cash, when that is the condition
>     of the sale anyway - unless he was trying to sell it through a
>     broker of some sort, and needs money NOW.
>
>		
>			I would apreciate flaws in this thinking
>			to be pointed out, if any.

There is a consierable advantage to selling a house to a buyer
who offers cash, and that is that you know the deal is really
going to go through.  Consider: you want to sell a house to someone
who proposes to borrow money to buy it.  How do you know the
buyer is really going to get the loan?  It takes a month to find
out.  During that time, you can't sell the house to anyone else,
so that if the deal falls through you may lose your chance.
Or the buyer may get the loan, but not for as much as originally
requested.  Now you have the choice to settle for a lower price
or start all over again.  And so on.